MTAR Technologies Limited, a precision engineering company specializing in manufacturing for the defense, aerospace, and energy sectors, has announced its 26th Annual General Meeting (AGM) to be held on September 18, 2025. The meeting, which will be conducted through video conferencing, includes several significant proposals for shareholder consideration.

Key Agenda Items

1. Statutory Auditor Re-appointment: The company proposes to re-appoint M/s. S.R. Batliboi & Associates LLP as statutory auditors for a second term of four years, with an annual fee of Rs. 72.00 lakh.

2. Director Re-appointments: The AGM will consider the re-appointment of Mr. P. Srinivas Reddy and Mr. Akepati Praveen Kumar Reddy, who retire by rotation.

3. Independent Director Continuation: Shareholders will vote on the continuation of Mr. Venkatasamy Gnana Sekaran as an Independent Director beyond the age of 75 years.

4. Whole-Time Director Re-appointments: The company seeks approval for the re-appointment of Mr. Akepati Praveen Kumar Reddy and Mr. Anushman Reddy as Whole-Time Directors for three years, with proposed remuneration packages.

5. Cost Auditor Remuneration: Ratification of the remuneration for M/s. Sagar & Associates as Cost Auditors at Rs. 4.00 lakh for FY 2025-26.

6. Secretarial Auditor Appointment: Proposal to appoint M/s. S.S. Reddy & Associates as Secretarial Auditors for five years at an annual fee of Rs. 2.40 lakh.

Remuneration Proposals

The company has proposed the following remuneration packages for its Whole-Time Directors:

Both directors will also receive perquisites including driver and maintenance costs for personal cars.

Corporate Governance and Transparency

MTAR Technologies has demonstrated its commitment to corporate governance by providing detailed explanations for each proposal in the AGM notice. The company has also issued a corrigendum to include the previously omitted explanatory statement regarding the re-appointment of statutory auditors, showcasing its dedication to transparency and compliance with regulatory requirements.

Conclusion

The upcoming AGM represents a significant event for MTAR Technologies, with important decisions to be made regarding leadership, auditing, and corporate governance. Shareholders are encouraged to participate in the virtual meeting and exercise their voting rights on these crucial matters that will shape the company's future direction.

The AGM is scheduled for September 18, 2025, at 11:00 AM through video conferencing, with remote e-voting available from September 15 to September 17, 2025.

MTAR Technologies Limited , a leading precision engineering solutions company, has reported a robust performance for the first quarter, with significant growth across key financial metrics and positive outlook across its business segments.

Financial Highlights

The company's revenue from operations stood at INR 156.60 crores in Q1, representing a year-on-year growth of 22.1%. EBITDA saw a substantial increase of 70.9% to INR 28.40 crores, while profit after tax grew by an impressive 144.2% to INR 10.80 crores compared to the same quarter last year.

Segment Performance

Clean Energy

The Clean Energy segment, which includes fuel cells, hydropower, and battery storage systems, delivered approximately INR 105.00 crores in revenues for the quarter. MTAR Technologies has undertaken the development of new products for its key customer, Bloom Energy, further expanding its wallet share in this sector.

Srinivas Reddy, Managing Director and Promoter of MTAR Technologies, stated, "Our customer, Bloom Energy, has provided the highest-ever forecast for the execution of our boxes in the upcoming fiscal year post the tariffs announcement."

Aerospace and Defence

The Aerospace and Defence vertical delivered approximately INR 25.00 crores in orders during Q1. The company is actively strengthening its defence portfolio and participating in tendering processes for various prestigious programs for the Government of India.

Civil Nuclear

In the civil nuclear sector, MTAR registered revenues of approximately INR 5.40 crores during Q1. The company has submitted quotes for upcoming projects in Kaiga-5 and -6, as well as refurbishment reactors for Madhya Pradesh, Rajasthan, and Chennai projects.

Future Outlook

MTAR Technologies maintains its guidance of 25% revenue growth and an EBITDA margin of 21%, plus or minus 100 basis points. The company anticipates receiving orders worth approximately INR 1,000.00 crores from the nuclear division over the next 3 to 6 months.

Reddy commented, "We expect to receive approximately INR 1,000.00 crores in the next 3 to 6 months. As we all know, India's strategic push to increase nuclear power capacity to 100 gigawatts by 2047, we see clear visibility and forecast for the civil nuclear sector."

New Ventures and Partnerships

MTAR Technologies has recently entered into a long-term agreement with Weatherford for the oil and gas sector. The company is setting up a dedicated facility in the Special Economic Zone (SEZ) to support this vertical, seeing promising long-term growth potential in this sector.

Working Capital Management

The company's working capital days increased to 267 days from 229 days in the previous quarter, primarily due to delayed receivables from conflict-affected regions. However, MTAR Technologies is targeting to reduce working capital days to 200 days by the end of the financial year.

In conclusion, MTAR Technologies' strong Q1 performance, coupled with its robust order pipeline and strategic initiatives across various sectors, positions the company for continued growth in the coming quarters.